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Reader´s Digest Publisher Succumbs
to Bankruptcy Again

FOXBusiness, by Matt Egan

Original Article

Posted By:SallyHerigstad, 2/18/2013 11:24:29 AM

In a bid to slash $465 million of debt, Reader’s Digest parent RDA Holding Co. filed for Chapter 11 bankruptcy over the weekend for the second time in less than four years. The media company said it has reached a deal with its largest creditor, Wells Fargo (WFC), and more than 70% of its secured noteholders on a financial restructuring plan that includes the Chapter 11 filing.

I used to love Reader´s Digest. It got to be repetitive and simplistic, so I cancelled.


Post Reply  

Reply 1 - Posted by: lylacat, 2/18/2013 11:34:27 AM     (No. 9182962)

What is wrong with a country that will allow banks to give someone who went bankrupt ... now give them another $465 million less than four years after the first time they go bankrupt. I will tell you why, because the banks get to keep a saver´s money, pay them NO interest, and when they lose this $465 million dollars, the banks can pass the loss on to the taxpayers. This is a really sick way to run a country.

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Reply 2 - Posted by: bamapreacher, 2/18/2013 11:38:50 AM     (No. 9182979)

I, too, used to love Reader´s Digest but in recent years it has become little more than a tabloid. Very sad because it used to include condensations of articles by good writers. Now the writers are little more than average bloggers.

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Reply 3 - Posted by: LouD, 2/18/2013 12:29:37 PM     (No. 9183110)

The Digest has become a liberal piece of crop, useless as used toiler paper.

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Reply 4 - Posted by: avikingman, 2/18/2013 12:29:38 PM     (No. 9183111)

It went from conservative to lib owners. That´s the problem in a nutshell.

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Reply 5 - Posted by: MissMann, 2/18/2013 12:34:48 PM     (No. 9183122)

I bought a subscription for my middle school classroom, but I haven´t been able to bring in the most of the issues because of all the tasteless content. The highly advertised "Humor" issue was cover-to-cover tasteless jokes about sex, adultery, etc. Ugh. The big article in this month´s issue that won´t make it into the classroom: Elvis´ illicit affair with Ann-Margaret!

In true liberal fashion, the publishers believe only trash sells. Obviously they are wrong, but reality does not seem to be making much of an impact on them.

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Reply 6 - Posted by: JimS, 2/18/2013 12:41:09 PM     (No. 9183141)

Haven´t read RD in years, though I see it on the rack in my physician´s office.
It´s demise can be blamed on two things. First, that people read less today (especially printed material vs. internet).
And, most important, RD went liberal, PC many years ago. It advocatesfor bigger government, more entitlements, and is full of global warmism.

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Reply 7 - Posted by: Keekng, 2/18/2013 1:22:41 PM     (No. 9183212)

The RD problems began when it switched from informative to a liberal propaganda rag. Bankruptcy suits them.

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Reply 8 - Posted by: tennman, 2/18/2013 1:51:17 PM     (No. 9183282)

I do continue to read RD (an annual present from my mother) but have noticed a shift left. The articles all seem to be cookie-cutter, with a large number being "little guys" fighting big-bad corportations. The mag is also about 25% drug ads, complete with disclaimers. Not much real content any more.

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Reply 9 - Posted by: JHHolliday, 2/18/2013 2:12:24 PM     (No. 9183328)

As most of you I used to love RD. Good humor, interesting stories, famly friendly, patriotic, etc.

Then they sold and took a left turn. When leftists obtain any kind of media they simply cannot resist turning it into one of their propaganda tools. They feel it´s their ´moral duty´ to tell the rest of us what to think and what to do.

Not very smart to cut out half of your readers while print media is under fire from all sides and Obama´s recession grinds on...

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Reply 10 - Posted by: LamontCranston, 2/18/2013 5:56:27 PM     (No. 9183693)

It is a shadow of itself. It USED to publish condensed articles from a wide variety of magazines and newspapers. Those are gone as are the condensed books. It used to be a conservative magazine that sometimes broke big stories. RD was the first to publish news about the killing fields in Cambodia for example. They have completely lost their focus.

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